Cost of Living in Red Lake, AZ

With a cost of living index of 96, Red Lake, AZ is slightly more affordable than average. Living here is 4% cheaper than the national average and 7% above the Arizona state average of 89. Red Lake is a small community of 1,764 residents.

Housing costs are the biggest factor in Red Lake's cost of living. The median monthly rent is $1,281 (3% below the US median of $1,319), and the median home value sits at $299,300 (2% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Red Lake is $86,125, which is 15% higher than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Flagstaff, AZ (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.